Arsene Wenger maintains it is part of a manager's job to ensure the financial stability of their club.
Arsenal's parent holding company have revealed an increase in turnover to £313.3million and a record profit after tax of £35.2million from results for the year ending May 31.
However, with the cost of the £400million move to Emirates Stadium from Highbury continuing to tie up the long-term financial commitments of the Premier League club, there have been suggestions Wenger does not have the cash with which to strengthen his squad should he wish.
Indeed Manchester City, now bankrolled by the deep pockets of their new Arab owners, raided the Gunners for both striker Emmanuel Adebayor and Kolo Toure this summer, while Wenger opted to bring in just Belgium international defender Thomas Vermaelen from Ajax for £10m and tie up existing players such as Robin van Persie on new deals.
Chairman Peter Hill-Wood was, in his report to shareholders, quick to highlight the board's determination to help Wenger secure continued success on the field and a first trophy since 2005.
Wenger, though, insists keeping his employers on an even financial keel must remain high on the agenda.
"I am encouraged by the fact that the financial results are good because I try on my side to contribute to that as well," said Wenger, whose side take on Olympiakos in the Champions League on Tuesday night.
"You want to work in a company that is in a healthy financial situation.
"I am quite proud that I work in a company that is in a strong financial situation."
Wenger continued: "The sporting side is one side, that is the most important, so to be completely happy you have to do well on the sporting side.
"I have always worked in clubs who make money, and I would not feel that I do my job well if we lost money at the end of the season - never, no matter what happens on the sporting side - because you put the club in trouble and, in my opinion, that cannot be accepted from any manager."
Despite having to extend the terms of the loan which helped fund the Highbury Square development, the project itself remains robust despite the difficult financial climate and falling house prices.
Monday's figures included the completion of 208 private apartments to bring in some £88m, while since the end of the financial year, more units have been sold at the club's former ground, which they left in 2006.
Most of Arsenal's overall net debt, which has decreased to £297.7m from £318m, is tied into the 2006 move to the 60,000-seater Emirates Stadium, financed mainly by a long-term loan which is repaid at a fixed-term, much like a mortgage, at around £20m a year.
Chief executive Ivan Gazidis feels the club is well set for the challenges ahead as they continue to move forwards on a self-sustaining basis without the need for any major outside investment.
He said: "The club has a philosophy of reinvesting all of the money it makes back into the club.
"Money is not taken out in the form of dividends to the shareholders, so it's very important to understand all of the money we're making, all of these financial results we're talking about benefit the club.
"We will only invest, and Arsene will only invest, if it's going to be for players who really add some value and quality to the squad.
"We are fortunate we've got a manager who thinks about his responsibility, thinks about the long-term implications and doesn't spend money because he's got it.
"He spends only if he believes we can add something of significance to our squad and we think he's proved that with [Andrey] Arshavin and Vermaelen."
Your Comments
godspower_og
"Big deal!!. Don't know if he's a presidential adviser on economy, budget and planning or a football and club tactician? Is he detailed to ensure the success of the team mainly on the pitch and leave the account balancing to the ADMIN STAFF? Somebody had better spellout the job function for this man. I think he's lost on this. Is arsenal any financially better than MANU or BARCELONA. These are some of the elite clubs in the mould and class of ARSENAL that has been declaring good balances in their sheets. I can understand it when some spendings is senseless, like portsmouth last season and totenham this season ( REDKNAPP style) but it makes sense to add some experience, bite and depth to a good team most especially when the team seem to feasle out towards the end of each season for the past 5 years. What is the essence of competition when the altimate goal is no more the trophy? Please, someone should advise this man to come off this JUVENILE postulation and begin to think positively. "
relegatethescum
"wenger is spot on again. does anyone remember leeds utd?
what wenger has acheived over the last 5 years is incredible and it has been successful, not with winning trophies but with a complete and utter change in almost every aspect of the club....the invincibles,all gone, the new sate of the art training set up, the new and very beautiful stadium. all this has been completed while still keeping the club competitive at the highest level, i doubt if there is another manager in world football who could have done it, (maybe old red nose) but the long term future of the club is secure and i for one am very happy about that, who else could i support if arsenal dissappeared? the spuds? "
kevoface
"Winning The F.A Cup or Carling Cup for that matter is considerably less lucrative than finishing 4th.All Wenger,who has a degree in economics, is trying to do is live within his means so to speak.There's something sordid and against the spirit of sport for Real Madrid to be able to spend,spend,spend, money that they don't really have.Their debts are insane no matter how much they try and dress it up as investment that will eventually pay off.It's that kind of thinking or lack of,that has the world economy in the mess it's in..."
GUMBOAVFC
"Id rather see my team spend the mullah than save it all and settle for mediocity (im not saying arsenal are mediocre before all ye gooners start moaning). It has to be done in a balanced sensible approach, I dont think Arsene would splash the cash on all and sundry if he had it hes quite sensible and has got a good nose for african talent.
By the way does he own a suit which isnt grey?"
Liverbnz
"You can have all the money in the world, but it won't buy you guts, nerves of steel and determination. 3 things that Arsenal lack at times when the most need it."
cescisgod
"Drunkenmaster: You sound just like Rafa Benitez! "Fact" this, "Fact that". The simple fact is that none of your "facts" are facts at all - they're just your opinion. And if you think we need to sell Denilson and Song then your a crazy man."
Cesc_Bomb
"Drunkenmaster: Just keep Flamini and Diarra then yeah? They wanted to leave the club, they didn't get booted out and there wasn't much Wenger could do to prevent it. And as for getting rid of Song - why the f**k we would want to get rid of one of our best performers?! He was very good towards the end of last season and he's been excelent this season so far, including the game just gone against Fulham. You don't make a lot of sense.
"
Little_Dutch
"Getting into the CL gets you £30m before you kick a ball. Winning the Carling Cup gets you £50k, winning the F.A. Cup £85k. What Wenger is saying is not controversial, making sure you're not about to go bust is a pretty baseline requirement of a football club. The board have followed Wenger's vision more than the other way around for quite some time now, that's why he hasn't left us because he runs the club as he wants."
Arsene_Knows
"Drunkemaster: at least he didn't head into his own net again! Small mercies, small mercies"
Kbizzle
"It must be nice living in a fantasy land like some of you guys below but winning trophies doesn't necessarily bring in the cash. Look at what Redknapp has done for pompey. One trophy last year and now they've had to sell the majority of their good players and are sitting at the bottom of the table. Obviously champs league will earn you more money but its not just a matter of spending cash to get it, a lot of the best barca players have been there from a young age"
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